Compass debt company

[Amethyst]

Re: Compass debt company

I'm changing my mind about withholding payments - is there anything to lose, other than the monthly amounts paid out whilst waiting the 3-4 months?

No.

Quite a few debts ARE bought at under 10p in the pound. ( see attached 1st Credit/Vanquis )

[Wingco]

Re: Compass debt company

I'm changing my mind about withholding payments - is there anything to lose, other than the monthly amounts paid out whilst waiting the 3-4 months?

[Nibbler]

Re: Compass debt company

Some are indeed like that. Some can and do come back with the right paperwork, which makes it enforceable against you including anything you may have withheld.

So stopping payments while they are in default of a CCA request is always a calculated risk.

Some people just think the no CCA after 12 + 2 days = stop paying, no matter what.

I would always say that you have to look at each one on a case to case basis, thinking what may happen should they turn up something in the end, even if that may be months and months down the line.

[Wingco]

Re: Compass debt company

1. They can demand/ask, but a court could not enforce any such demand if it went to court and remained in default.

2. They can ask. You are not obliged to supply one, except by order of the court, CCA or no CCA.

3. s87 default, no if one has already been issued and not remedied. CRA default, no if already has been one, and they would be restricted on date.

4. What is fair is what is affordable pro rata. End of.

Excellent - that has put my mind at rest.

My intention will be to stop payments after 12+2 working days 24/25th March for those that haven't provided the information from the CCA letter. Even the one that has replied so far has only said that they are going to the 'originator' and that my account is now on hold.

get the strong sense that most of these debts are bought at 10p in the pound (even less for those agencies that by third hand debts) with little or no back-up paperwork and rely on the scatter gun and fear technique to make their money?

[Nibbler]

Re: Compass debt company

1. They can demand/ask, but a court could not enforce any such demand if it went to court and remained in default.

2. They can ask. You are not obliged to supply one, except by order of the court, CCA or no CCA.

3. s87 default, no if one has already been issued and not remedied. CRA default, no if already has been one, and they would be restricted on date.

4. What is fair is what is affordable pro rata. End of.

[Wingco]

Re: Compass debt company - Stepchange

I would not hold your breath for a reply within the 12+2 days timescale. It would be rare to get one.

The 'militant' reaction would be to fire off a reminder letter pointing out that it's unenforceable until they comply and stop paying, but I think nowadays the better option, unless you are being harassed/pressurised, is to hang file for a month or 2/3/4 to see what they can get.

Hi Nibbler
I like the idea of hanging fire for a couple of months at least, as long as it doesn't put me in a worse position; but how can it? My view is that it would be the DCA that is a fault by not complying with the CCA.
As I understand it until they provide all the data requested in the CCA::

1. they can't demand full settlement if I don't pay for a while whilst waiting for their CCA response?

2. they can't ask for a I&E statement to assess my ability to pay?

3. they can't file a DN if one has already been filed by another agency previously?

4. I've offered more than twice the token paid by Compass - is it fair to insist that is all I can afford or can they insist on more, particularly before they have responded to the CCA?


Sorry for so many questions.

Wingco

[Nibbler]

Re: Compass debt company - Stepchange

waiting to hear from NCO Europe - no doubt they will respond this week as they have until 24/25th to reply to my CCA letter (request for original credit contract details to confirm everything is in order and the loan is enforceable). We shall see although I'm not fully confident as to what to do if I don't hear from them?

I would not hold your breath for a reply within the 12+2 days timescale. It would be rare to get one.

The 'militant' reaction would be to fire off a reminder letter pointing out that it's unenforceable until they comply and stop paying, but I think nowadays the better option, unless you are being harassed/pressurised, is to hang file for a month or 2/3/4 to see what they can get.

[Wingco]

Re: Compass debt company - Stepchange

Hi all hope ever one is hanging in there,been back at work so not had time for much. Have got the paper work for Stepchange so filling it in, will be a bit more relaxed once its up and running. Thanks again for all your help xx

Hi Taff

Good to hear from you and to hear things are progressing - it's gone a bit quiet lately on this thread. My self-administered DMP is working well so far although I'm still waiting to hear from NCO Europe - no doubt they will respond this week as they have until 24/25th to reply to my CCA letter (request for original credit contract details to confirm everything is in order and the loan is enforceable). We shall see although I'm not fully confident as to what to do if I don't hear from them?

I'm very interested in your experience with Stepchange although I feel sure it will work best for you. if things don't work out with doing it myself, I may have to use Stepchange. My initial contact with them was not great and I was being asked for substantially more than I was paying Compass; no doubt Compass were overly generous to me, but Stepchange were cutting me to the bone (well almost). Hopefully, if I do use Stepchange, I will find a more sympathetic advisor - yours seemed perfect?

Keep feeding back on Stepchange. It's very useful for a wide range of people.

[taff_dragoness]

Re: Compass debt company

Hi all hope ever one is hanging in there,been back at work so not had time for much. Have got the paper work for Stepchange so filling it in, will be a bit more relaxed once its up and running. Thanks again for all your help xx

[Amethyst]

Re: Compass debt company

http://legalbeagles.info/forums/showthread.php?78797- FCA announcement - Information-for-customers-of-RMR-Financial-Services-Ltd-(trading-as-Compass-Debt-Counsellors)

RMR’s bank accounts have been frozen. This means that the firm will not be requesting direct debits from clients’ accounts and standing order payments will be rejected and returned to customers’ bank accounts.

[Wingco]

Re: Compass debt company

so now I know what Wingco stands for ....

You learn something new every day!

[charitynjw]

Re: Compass debt company

No, Amanda has assured that she had no idea what was going on - and as an MP she can't lie........................................

....................just "economical with the actualité" ? :whistle:

[Debt Camel]

Re: Compass debt company

so now I know what Wingco stands for ....

[enaid]

Re: Compass debt company

Sometimes, no matter how deep the poo, you have to keep laughing.

If we didn't we would be covered in the bloody stuff and no one does that to me :beagle:

[Wingco]

Re: Compass debt company

Hi Enaid
In the military as a fairly senior officer, I was accused in no uncertain terms of having an inappropriate sense of humour. With a huge smile on my face, I replied: "Thank you Sir!" At which point he exploded and said: "That's precisely what I bloody meant." I think he thought I genuinely believed he was complimenting me.
On a senior officers' Staff Course, a visiting team of Biological Warfare experts were headed by a Brigadier who started by saying: "It is with some trepidation I address you all today as I understand in amongst you is the officer who trained all of my team here with me today, so I am expecting a particularly esoteric question from Wing Commander XXXXXXXXX". So at the end of the presentation I was pointed out to the Brigadier, I stood up and asked: "What does 'esoteric' mean?" My inappropriate sense of humour got me into deep trouble yet again.
Sometimes, no matter how deep the poo, you have to keep laughing. "Illegitimi non carborundum".